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In Eerie Replay Of 2011, Gold Spikes Abruptly To Over $1770, Silver Follows

Tyler Durden's picture


Day after day, the long overdue correction of gold to fair value which as we have discussed previously, is now at about $2000 based on the recent multi-trillion Central Bank balance sheet expansion, keeps getting delayed, providing cheap entry points to all real money adherents. And then we get moments like the past 10 minutes, when gold goes on the same kinds of buying sprees that we remember best from the summer of 2011. With no news at all, in a span of minutes, both gold and silver have soared, with gold touching on $1772, and now about $150 away from its all time highs. The return of gold now is 13% YTD, compared to the far lower 8.4% return for the general market. Why the move? A big buyer obviously. But besides that, why the hell not - when one considers that the last time gold was over $1900, total central bank assets were $2 trillion less, it is a miracle gold is not far, far higher. The catalyst this time according to some is the "sudden realization" that in one week the ECB's balance sheet is about to increase by at least 20% courtesy of the latest and greatest LTRO. According to others, it is "more buyers than sellers." Both are right. As a reminder: we have warned repeatedly that the massive balance sheet expansion is spilling over out from equities and into everything else, including gas and now, gold. We pointed out that the biggest trade off of a soaring market could well be the one thing that derails Obama's presidential campaign. Now the only other thing that could stop central bankers from their CTRL+P frenzy - the surge in real money - is starting, and unlike 2011, it is starting quite early this time around. As we said over the weekend: inflation is a-coming back.


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Wed, 02/22/2012 - 14:35 | 2185623 bugs_
bugs_'s picture

War indicator, not ongoing inflation indicator.

Wed, 02/22/2012 - 14:38 | 2185635 ilion
ilion's picture

Gold will be at 1800 by the beginning of next week. I won't tell you how I know this because you gonna bust my balls again.

Wed, 02/22/2012 - 14:46 | 2185680 midtowng
midtowng's picture

My gold and silver still look the same as when I bought them at $300 an ounce and $5 an ounce. They weigh the same. They shine the same. They are hated by central bankers and Wall Street the same.

Wed, 02/22/2012 - 14:48 | 2185689 trav7777
trav7777's picture

if CBs hate gold so much, why do they hold so many tons of it?

Wed, 02/22/2012 - 14:50 | 2185698 bob_dabolina
bob_dabolina's picture


Wed, 02/22/2012 - 15:05 | 2185763 GetZeeGold
GetZeeGold's picture



Traditionally leased out.....good luck getting it back.




Wed, 02/22/2012 - 15:21 | 2185832 bdc63
bdc63's picture

went outside to feed the chickens and gold was trading down about 2 bucks ... came in 5 minutes later and it was up $10.  nice to know that I'm not the only one that noticed.

trading up about $22 bucks now to $1780, and it looks like it is still moving going into the 2:30 commodities close ... and of course the bozos on CNBC haven't mentioned a single thing about it (too busy talking about Lumber Liquidators and Cheesecake Factory ... what the ...).

Wed, 02/22/2012 - 15:39 | 2185961 engineertheeconomy
engineertheeconomy's picture

what the fuck? (finished it for you)

Wed, 02/22/2012 - 16:01 | 2186064 TruthInSunshine
TruthInSunshine's picture

Why junk trav for asking a rhetorical question that made The Bernank look like a fool when asked the same by Ron Paul?

Wed, 02/22/2012 - 16:17 | 2186133 fuu
fuu's picture


Wed, 02/22/2012 - 16:32 | 2186184 trav7777
trav7777's picture

I lold @ this

Wed, 02/22/2012 - 15:21 | 2185837 trav7777
trav7777's picture

i'm seein yen and GBP devaluation potential as well could be driving this.  Meanwhile the BRL is goin up up

Wed, 02/22/2012 - 15:42 | 2185974 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

Not sure why anyone would junk this comment.  Yuan strength/dollar and euro flat/GBP and Yen weakness threw a wrench in the PM market.  It's an FX trade reversal, and when trades reverse, people change their methods.  Today and yesterdays methods was buying gold.

Wed, 02/22/2012 - 16:00 | 2186063 Silversinner
Silversinner's picture

Wish the Dutch(my country) would have kept

our gold.We had 1900 tons at 1991,now

we only have about 800 tons left;sold

1100 tons at ridiculous low prices.Same goes

for England and the Swiss.

Wed, 02/22/2012 - 16:11 | 2186112 Transformer
Transformer's picture

And who do you think bought all that cheap stuff?

Wed, 02/22/2012 - 14:53 | 2185704 AC_Doctor
AC_Doctor's picture

trav777 "if CBs hate gold so much, why do they hold so many tons of it?"

Do you mean the huge amounts of gold bullion that has been rehypothecated over and over 200 plus times.  Drop in the bucket bitch for what they have to cover their shorts with!

Wed, 02/22/2012 - 15:07 | 2185772 MarcusLCrassus
MarcusLCrassus's picture

Because its such a barbaric relic that they like to keep it around to remind them of the time when people were just roving barbarians hunting woooly mammoths. 

Wed, 02/22/2012 - 15:17 | 2185808 Ancona
Ancona's picture

Thank you for noticing that I am a Barbarian. I like it!

Real money bitchez. It's what's in my wallet!

Wed, 02/22/2012 - 15:08 | 2185777 tocointhephrase
tocointhephrase's picture

Trav is T

Wed, 02/22/2012 - 15:14 | 2185791 tocointhephrase
tocointhephrase's picture

Jon Nadler is a kunt is a kunt is a kunt, jon nadler is a kunt dont buy at kitko! Hug your dealer lar lar lar lar lar lar lar lar lar hug your dealer lar lar lar Occupy Wall Street!

Wed, 02/22/2012 - 15:18 | 2185802 tocointhephrase
tocointhephrase's picture

----1764 now a bottom?

-----Gold iz in a burble? 

Wed, 02/22/2012 - 15:54 | 2186029 engineertheeconomy
engineertheeconomy's picture

Agree with Tocointhephrase, Kitco is %100 MANIPULATED

Wed, 02/22/2012 - 15:16 | 2185804 Milton William ...
Milton William Cooper's picture

Cb's don't hate gold, they hate people other than them owning it

Wed, 02/22/2012 - 21:18 | 2187352 MarcusLCrassus
MarcusLCrassus's picture

Ding ding ding, we have a winner.


CBs are in the tough position of trying to accumulate as much gold as they can, while at the same time making the population think that accumulating gold is stupid and something to be hated.   They're trying to do that without looking stupid, and that's hard to do. 

Wed, 02/22/2012 - 15:17 | 2185810 tmosley
tmosley's picture

Probably the same reason you own silver while trashing it at every opportunity.

Wed, 02/22/2012 - 15:26 | 2185872 trav7777
trav7777's picture

I don't trash silver, it's an inanimate object.  I trash YOU and idiots like you for shamelessly pumping an industrial metal and trying to stampede gullible lemmings into becoming bagholding dupes.

Wed, 02/22/2012 - 15:28 | 2185889 tmosley
tmosley's picture

Those "bagholding dupes" who are all in the money?


Wed, 02/22/2012 - 15:41 | 2185965 trav7777
trav7777's picture

you do know that we were all here during the bubble runup and we ALL saw you breathlessly cheerlead silver like a NAR economist, right?

You can't pretend away the truth, cliff.  It really WAS you who said "$60 by next week," "hyperinflation IMMINENT," and "$49 by the end of this week," all while silver totally cratered and got a lot of people's life's savings totally blowtorched.

All those people are "in the money," eh?  Just like "housing is a can't miss investment that never goes down."  I'm going to start calling you Cliff mosely-Yun-Lareah-claven.  You have more names than a fuckin south american

Wed, 02/22/2012 - 16:07 | 2186093 tmosley
tmosley's picture

You can make up shit all you want, but the fact is that people who followed my advice have made money.

Repeat that lie enough, and maybe people will beleive you, wanna-be Hitler.

Also, so nice of you to lay out your lies for me.  The first quote is out of the context of even the sentance, which said "At this rate, silver will be $60 by next week", which is quite clearly an observation, not a fucking prediction.

Hyperinflation IS imminent, you idiot.  Are you seriously saying we aren't going to have any?

And how exactly is the FACT that people who cost averaged are LITERALLY AT WORST down less than $2 from their cost average anything like"housingis a can't miss investment that never goes down"?  I have said repeatedly, and BEFORE that rise that we were going to go into a period of extreme volatility with a trend toward ZERO as the exchange falls apart, which is EXACTLY what has happened with the MF Global fiasco.

But you still have a personality disorder, so you will never recognize anything that goes against whatever is already in your little head.

Wed, 02/22/2012 - 16:40 | 2186207 Crumbles
Crumbles's picture

Now, now, Mr Mostly -

you just invoked Godwin's Law; "As an online discussion grows longer, the probability of a comparison involving Nazis or Hitler approaches 1"

And the rest of your argument is completely ignored after the ref. to Herr Fuckface.

You know who I mean ...


Wed, 02/22/2012 - 16:43 | 2186224 tmosley
tmosley's picture

No, I didn't.  Godwin's Law does not apply when talking about people who espouse eugenics, like Trav.

Trav tried to claim that before while in the same breath talking about extermination of 97% of the world's population and how we must all give up our freedoms to survive.

Wed, 02/22/2012 - 16:56 | 2186267 DosZap
DosZap's picture

Hyperinflation IS imminent, you idiot.

THIS is a FACT........................................this is why you should not give a whale turd where you buy PM's in fiat.

The only way you will survive is with phys ownership in this event.

Wed, 02/22/2012 - 15:31 | 2185916 JLee2027
JLee2027's picture

And we trash you for not recognizing that Silver has been money since the dawn of civilization. It has only become an industrial metal in recent history. But you put industry usage first and not money.

I'll bet you personally will be using silver as money within the next 2 years.  Or you'll be the last ass at the gas station trying to use fiat when gas is 3 billion per gallon.

Wed, 02/22/2012 - 15:32 | 2185921 HungrySeagull
HungrySeagull's picture

It's a medical metal now.

Wed, 02/22/2012 - 15:38 | 2185954 Bay of Pigs
Bay of Pigs's picture

Trav, when silver finally breaks free from JPM and the other cartel criminals you will look like the biggest douchebag to ever post here at ZH.

Please get your head out of your ass. It's pathetic.

Wed, 02/22/2012 - 15:42 | 2185973 trav7777
trav7777's picture

oh it's really gonna take silver to "break free" from JPM's evil clutches for that?  Where have you been for like since I signed up for ZH?

Wed, 02/22/2012 - 15:49 | 2186001 Chump
Chump's picture

Now that's funny, I don't care who you are.

Wed, 02/22/2012 - 16:02 | 2186073 Troll Magnet
Troll Magnet's picture

now, now, bitches...smoke some weed and chill out!  it's one of them good days for us PM owners (myself excluded, of course, because i swear to your god i don't own any).


Wed, 02/22/2012 - 16:08 | 2186097 Chump
Chump's picture

Now that's good advice, I don't care who you are.

Wed, 02/22/2012 - 16:11 | 2186116 Bay of Pigs
Bay of Pigs's picture

Your arguments hold no water when it comes to silver.

Now go get your fucking shinebox...

Wed, 02/22/2012 - 16:35 | 2186194 tmosley
tmosley's picture

Hmm, two years, six weeks.  Silver was $18.60, and I was telling people to buy it, via cost averaging.

And you still had a family and a job, lol.

Wed, 02/22/2012 - 17:53 | 2186524 trav7777
trav7777's picture

yeah and a few months ago you were telling people to BUYBUYBUY and then it crashed.

And you were still a loser.

Wed, 02/22/2012 - 18:00 | 2186549 tmosley
tmosley's picture

lol, weak.

Wed, 02/22/2012 - 19:48 | 2187018 EHM
EHM's picture

Industrial metal? Since when 1963? Oh but we have evolved as a human race and no longer need to follow basic principle right?

Wed, 02/22/2012 - 16:30 | 2186174 Alpha Monkey
Alpha Monkey's picture

If a majority of people migrated to gold for wealth preservation, it would seriously hamper their business model of stealth theft and control.  They hold it because they know their game is rigged and some day, as has happened in the past many times, there will be a return to real money.

So, they do hate it, but they also know it's value. 

Wed, 02/22/2012 - 17:48 | 2186501 CompassionateFascist
CompassionateFascist's picture

The "hate" is PR, to keep real people from buying and running up the price. The "love" is Rothschild in the vault, caressing his gold.

Wed, 02/22/2012 - 19:57 | 2187058 Long-John-Silver
Long-John-Silver's picture

They hold tons of paper Gold, not physical Gold.

Wed, 02/22/2012 - 23:34 | 2187720 A Nanny Moose
A Nanny Moose's picture

Maybe they just want you to think they hate it so you won't buy any.

Wed, 02/22/2012 - 14:49 | 2185691 ilion
ilion's picture

Maybe it shines only on the outside? Are you sure you didn't buy it from Fed?

Wed, 02/22/2012 - 15:05 | 2185761 BLOTTO
BLOTTO's picture


Reagrding the 'they are hated'...

I think deep down inside they love it - Gold & Silver - but hate for US good folks to know about it.

Whoever owns Gold - rules the world.

Its not old - its ancient.

Wed, 02/22/2012 - 14:47 | 2185682 Ray1968
Ray1968's picture

Does anyone need that bit of info to bust your balls?

Wed, 02/22/2012 - 14:47 | 2185686 trav7777
trav7777's picture

platinum is mass murdering it

Wed, 02/22/2012 - 14:54 | 2185710 fuu
fuu's picture


bag holders


Wed, 02/22/2012 - 15:15 | 2185801 trav7777
trav7777's picture

no, I told you idiots to put on a convergence pair trade over a month ago...anybody who listened is getting free money

Wed, 02/22/2012 - 15:19 | 2185822 tmosley
tmosley's picture

I told people to buy physical silver every month.  Anybody who listened is getting free money, INCLUDING those who started buying at the absolute top.

But you have a personality disorder, so you don't care to examine yourself through the same lens you use to examine others.

Wed, 02/22/2012 - 15:29 | 2185893 trav7777
trav7777's picture

the people who bought using your hysterical predictions of "$60 by next week" have LOST money, idiot.  They are not getting free money.

Or do you mean if they held they are on the long road toward maybe reclaiming some of their lost capital as silver crawls back up?

The difference between your and my predictions is if you act on mine, you don't get blowtorched.  You make money.  Then if you want, you can actually go buy silver with it or some other industrial metal.

Wed, 02/22/2012 - 15:42 | 2185972 tmosley
tmosley's picture

Sure, they all took the "advice" I "gave" one time while I was telling them that the paper price was going to go to zero over and over and over.

Sure, they ALL bought RIGHT AT THE TOP with their ENTIRE LIFE SAVINGS based on that one comment, rather than paying attention to my incessantly repeated calls to cost average over a long period of time.

And what long road?  Those who buy the same amount each month like I tell them to are already in the money,m even if they started buying on the Kuala Lampur market just before UBL's death was announced.

The difference between your predictions and mine is you don't make any.  You come back and tell people that you have been telling them to do one thing or another, when you haven't.

You are a coward, a cheat, a pathological liar, and a megalomaniac.  You treat EVERYONE like shit, and wonder why your personal and professional lives are in shambles.

Get a clue.

Wed, 02/22/2012 - 15:46 | 2185988 trav7777
trav7777's picture

stop projecting, Cliff.

I have a gold rolex day-date that had a busted mainspring for a while.  I don't recall crowing over how fucking ACCURATE it was merely because it was dead on balls right TWICE per day (which is like 1000000x your rate). 

You are bleating about great predictions when every single one you ever make besides the stuck "buy silver ALL THE TIME" clock one falls flat on its face nearly immediately after your making it.

You are the ultimate FADE indicator, claven.

And I most certainly do NOT treat everyone like shit...just worthless people like you.

As for my personal and professional lives, I will bet you money, even silver, that all of the following statements are correct:

I make more money than you
My dick is bigger than yours
I bang more chicks than you

Hell I probably have more fuckin silver than you do too, how do you like DEM APPLES, BITCH?

Wed, 02/22/2012 - 16:00 | 2186059 Temporis
Temporis's picture

Alrighty boys, whip em out and lets have a good ol' fashion "who's got a bigger dick" measuring contest.

No cheating with the penis pump again Trav.

Wed, 02/22/2012 - 16:11 | 2186114 tmosley
tmosley's picture

Sorry, "buy silver all the time" has fucking worked, idiot.

Anyone who cost averaged into a short position has lost everything.

You are delusional.  See a fucking therapist.  Maybe when you get on anti-psychotics the judge will let you see your kids.

Wed, 02/22/2012 - 16:27 | 2186166 tekhneek
tekhneek's picture

I'm going to get rich inventing a device that allows trav and tmos to punch each other over the internet.

$35 pay-per-view, bitchez.

Wed, 02/22/2012 - 16:33 | 2186188 tmosley
tmosley's picture

I'd rather punch someone like Bernanke or Geithner, but I wouldn't mind cold-cocking a Hitler-wannabe.

Wed, 02/22/2012 - 17:39 | 2186469 engineertheeconomy
engineertheeconomy's picture

um mean a hitler-wannabe that licks the bankers balls for a living

Wed, 02/22/2012 - 18:08 | 2186586 trav7777
trav7777's picture

hey if you wanna fight, I'll kick your ass at that too...anytime you're feelin chesty there sparky

Wed, 02/22/2012 - 18:12 | 2186594 tmosley
tmosley's picture

lol, you sure are dumb.

Wed, 02/22/2012 - 16:50 | 2186251 fuu
fuu's picture

I was messing around with a browser plugin that would emote fight club sorts of things at the end of a post.


Wed, 02/22/2012 - 23:36 | 2187729 A Nanny Moose
A Nanny Moose's picture

A bargain at twice the price.

Wed, 02/22/2012 - 16:04 | 2186045 cranky-old-geezer
cranky-old-geezer's picture



I told people to buy physical silver every month.  Anybody who listened is getting free money ...

No, they're not getting free money.

Silver, the real money (acccording to the constitution), is rising in value compared to fancy green pieces of paper, which are NOT money.

Natural money has intrinsic value universally recognized by everyone.  Ok, everyone except central bankers ...and their government suckups ...their "partners in crime" you might say.

"Natural" is the key word.  Something people naturally view as having intrinsic value, without being compelled by law.

Granted, a population can grow accustomed to thinking fancy green pieces of paper are money ...especially when law says they MUST be accepted for payment if tendered.

But no, I refuse to view fancy green pieces of paper as natural money.  Legally mandaded money yes.  Natural money no.

Wed, 02/22/2012 - 16:12 | 2186119 tmosley
tmosley's picture

I was using his terminology.  From your perspective, they are still getting free money, since they are trading scraps of paper for real money.

Wed, 02/22/2012 - 16:41 | 2186209 trav7777
trav7777's picture

LOL, so now Cliff is the arbiter of what "real" money is.  So, IOW, cliff, I can't go down to the gas station and buy real gas with my FRNs?

Because EVERYONE is delusional except you, right?  BWAHAHAHAHAHAHHAHAHA

Wed, 02/22/2012 - 16:45 | 2186229 tmosley
tmosley's picture

Uh, I said "from YOUR perspective", referring to COG.

Pay attention.  Your delusions are interfering with your ability to read simple sentences. 

Wed, 02/22/2012 - 15:01 | 2185729 TruthInSunshine
TruthInSunshine's picture

Hey, Paul Krugman, welfare statist that you are (and enemy of productive people everywhere), if you're reading ZH today (while masturbating to your collection of Rentenmarks), here's a little truth for you:


Under a gold standard, the amount of credit that an economy can support is determined by the economy's tangible assets, since every credit instrument is ultimately a claim on some tangible asset. But government bonds are not backed by tangible wealth, only by the government's promise to pay out of future tax revenues, and cannot easily be absorbed by the financial markets. A large volume of new government bonds can be sold to the public only at progressively higher interest rates. Thus, government deficit spending under a gold standard is severely limited.


The abandonment of the gold standard made it possible for the welfare statists to use the banking system as a means to an unlimited expansion of credit. They have created paper reserves in the form of government bonds which-through a complex series of steps-the banks accept in place of tangible assets and treat as if they were an actual deposit, i.e., as the equivalent of what was formerly a deposit of gold. The holder of a government bond or of a bank deposit created by paper reserves believes that he has a valid claim on a real asset. But the fact is that there are now more claims outstanding than real assets. The law of supply and demand is not to be conned. As the supply of money (of claims) increases relative to the supply of tangible assets in the economy, prices must eventually rise. Thus the earnings saved by the productive members of the society lose value in terms of goods. When the economy's books are finally balanced, one finds that this loss in value represents the goods purchased by the government for welfare or other purposes with the money proceeds of the government bonds financed by bank credit expansion.

In the absence of the gold standard, there is no way to protect savings from confiscation through inflation. There is no safe store of value. If there were, the government would have to make its holding illegal, as was done in the case of gold. If everyone decided, for example, to convert all his bank deposits to silver or copper or any other good, and thereafter declined to accept checks as payment for goods, bank deposits would lose their purchasing power and government-created bank credit would be worthless as a claim on goods. The financial policy of the welfare state requires that there be no way for the owners of wealth to protect themselves.

This is the shabby secret of the welfare statists' tirades against gold. Deficit spending is simply a scheme for the confiscation of wealth. Gold stands in the way of this insidious process. It stands as a protector of property rights. If one grasps this, one has no difficulty in understanding the statists' antagonism toward the gold standard.

Alan Greenspan
written in 1966


By a continuing process of inflation, governments can confiscate, secretly and unobserved, an important part of the wealth of their citizens...


...As the inflation proceeds and the real value of the currency fluctuates wildly from month to month, all permanent relations between debtors and creditors, which form the ultimate foundation of capitalism, become so utterly disordered as to be almost meaningless; and the process of wealth-getting degenerates into a gamble and a lottery.

There is no subtler, no surer means of overturning the existing basis of society than to debauch the currency. The process engages all the hidden forces of economic law on the side of destruction, and does it in a manner which not one man in a million is able to diagnose.


John Maynard Keynes on inflation

The Economic Consequences of the Peace


Video:  Why do central banks hold Gold? Bernanke: Tradition
Wed, 02/22/2012 - 15:04 | 2185754 resurger
resurger's picture

Love your shit TIS


Wed, 02/22/2012 - 15:13 | 2185794 TruthInSunshine
TruthInSunshine's picture

Krugman & The Bernank have replied by saying that not only can one not "eat gold," one can't even buy a 99 cent taco made of 40% sawdust with a one ounce gold eagle (so there!):


Trying to buy a 99¢ taco with 1 ounce gold coin  - YouTube
Wed, 02/22/2012 - 15:30 | 2185909 trav7777
trav7777's picture

if that guy wants to repeat the exercise, I will take a fuckin job at taco bell for a day.

oz Eagles are legal tender at $50 at any rate; all of the eagle fracs are as well for different denominations.

Wed, 02/22/2012 - 16:20 | 2186142 tmosley
tmosley's picture

I'm sure it would be a step up for you.

Too bad you aren't willing to work around minorities.

Wed, 02/22/2012 - 17:59 | 2186543 CompassionateFascist
CompassionateFascist's picture

Race realists are always right.

Wed, 02/22/2012 - 18:03 | 2186558 tmosley
tmosley's picture

When what they say is real.  When it isn't, as with Travvy-boy here, they are wrong.

For example, his much cited race-IQ correlation falls out when childhood disease is controlled for:

Wed, 02/22/2012 - 18:13 | 2186589 trav7777
trav7777's picture

fails in the USA, idiot.  Everything you say is pretty much wrong...yet you just keep pluggin.  One day, cliff, one day.

The paper was about the Flynn effect.

r is higher for average skin darkness than for parasites.  It is also as high for cold weather.

You really OUGHT to read papers before getting blowtorched by what's in them.  Feel free to ask if you need help understanding science.

Wed, 02/22/2012 - 18:29 | 2186653 tmosley
tmosley's picture

What, you are saying poor blacks have the same rate of childhood disease as middle class whites?  That is an undergraduate level mistake, and only makes it that far because no high-schooler would be stupid enough to comment on it.

You clearly didn't bother reading the paper where that skin color correlation came from.  It excluded huge swaths of the world, including America.

Wed, 02/22/2012 - 20:29 | 2187164 trav7777
trav7777's picture

Why is it that every SINGLE time you are confronted by someone disagreeing with specific things you say that you put up a fucking STRAWMAN?

Are you incapable of responding on topic?

I wasn't saying ANYTHING of the kind.  Of course poor blacks have higher rates of disease, they come from less intelligent genetic stock and disease correlates with lack of intelligence.  The evil whiteys mostly eradicated these types of diseases long ago; that is what intelligent people do.

Next you will talk about the r of starvation or lack of multistory buildings with IQ and I will AGAIN go "no shit, sherlock."

Thu, 02/23/2012 - 00:22 | 2187825 tmosley
tmosley's picture

Staying on topic?  Like you, sidestepping my questions and countering with aggressive use of insults, false charges of fallacies, and ad hominem?

Your irrational behavior is getting worse and worse.  

Thu, 02/23/2012 - 00:59 | 2187901 trav7777
trav7777's picture

you fucking idiot, i ANSWERED your questions.  I made DIRECT rebuttals of the shit you said.

GFD you are a stupid shit.  That is NOT ad hominem, it is a fact.

Wed, 02/22/2012 - 15:40 | 2185964 resurger
resurger's picture

Geez Man!

Wed, 02/22/2012 - 23:41 | 2187744 A Nanny Moose
A Nanny Moose's picture

OK...those are Taco Bell workers...nuff said.

I for one am glad that the public school system has taught her nothing more than to punch those buttons, and only accept those FRN's. Keeps my asset purchases cheap.

Wed, 02/22/2012 - 15:04 | 2185757 SHEEPFUKKER

All of the PM "corrections" are manufactured.   As long as the money printing continues unabated, there should never be any selloffs. But thanks anyway banksters as I loved picking up some more on sale. 

Wed, 02/22/2012 - 15:14 | 2185798 SHEEPFUKKER

1776 bitchez!!! Gimme back my freedom!!!!

Wed, 02/22/2012 - 16:18 | 2186135 Troll Magnet
Troll Magnet's picture

i wish i had picked up some more on sale...sigh.

Wed, 02/22/2012 - 16:04 | 2186080 Shizzmoney
Shizzmoney's picture

God damn, I wish my family wasn't a bunch of poor bastards. 

Either way, this can't be good for oil (although awesome for irony.  If you are hearing crickets, that's the sound of Nouriel seething at the thought of being wrong).

DEE GOLD BAWGS!!!!!11111

Wed, 02/22/2012 - 16:04 | 2186081 jekyll island
jekyll island's picture

Uhhh, inflation never left, numbers are being manipulated by the gubmint. Peanut butter is up 40%, oh wait, food isn't part of core price inflation index, is it? Silly me. 

Wed, 02/22/2012 - 14:35 | 2185624 SemperFord
SemperFord's picture

I still only hold, I mean held silver...

Wed, 02/22/2012 - 14:41 | 2185657 tekhneek
tekhneek's picture

Damn boating accidents.

Wed, 02/22/2012 - 14:47 | 2185685 Gief Gold Plox
Gief Gold Plox's picture

The scourge of ZeroHedge readership.

Wed, 02/22/2012 - 15:12 | 2185792 catacl1sm
catacl1sm's picture

We really should have a boating saftey class. Someone could get hurt or lose valuables.


Wed, 02/22/2012 - 15:23 | 2185848 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

Or a scuba diving class. 

Wed, 02/22/2012 - 16:20 | 2186143 Troll Magnet
Troll Magnet's picture

what about those of us who gave away all our PMs to hookers?  

Wed, 02/22/2012 - 16:21 | 2186147 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

Then I hope you have a talented CPA.

Wed, 02/22/2012 - 23:44 | 2187751 A Nanny Moose
A Nanny Moose's picture

CPA's - Experts as showing others how to blow their wads.

Wed, 02/22/2012 - 21:26 | 2187384 Prometheus418
Prometheus418's picture

Perhaps we should ask the Bernak for a bailout... 

Wed, 02/22/2012 - 15:17 | 2185803 Jackfish
Wed, 02/22/2012 - 15:05 | 2185758 ratpack1968
ratpack1968's picture

You too?  I was canoeing last summer, tipped over and lost all of my gold, silver and my gun collection. I must have hit my head because I cant remember much about the accident.   

Wed, 02/22/2012 - 15:51 | 2186015 TruthInSunshine
TruthInSunshine's picture

I know someone who lost his Barrett M107 .50 caliber while rabbit hunting.

Talk about unlucky.

Wed, 02/22/2012 - 16:05 | 2186089 sgorem
sgorem's picture

dem wuz sum BIG assed rabbits TIS......

Wed, 02/22/2012 - 16:14 | 2186126 TruthInSunshine
TruthInSunshine's picture

It was near Fukushima Daiichi, so....

Wed, 02/22/2012 - 16:31 | 2186185 tekhneek
tekhneek's picture

Poor little wabbit didn't even hear it coming.

Wed, 02/22/2012 - 16:29 | 2186171 fuu
fuu's picture

Jimmy Carter?

Wed, 02/22/2012 - 16:55 | 2186266 Stuck on Zero
Stuck on Zero's picture

Did your friend have a Howitzer for bear hunting?

Thu, 02/23/2012 - 07:45 | 2188478 BidnessMan
BidnessMan's picture

Curious - he can't find the rabbit he shot either. Double unlucky.....

Wed, 02/22/2012 - 14:36 | 2185625 H. Perowne
H. Perowne's picture

El oro, putos!

Wed, 02/22/2012 - 14:36 | 2185626 bania
bania's picture


Wed, 02/22/2012 - 14:40 | 2185628 GeneMarchbanks
GeneMarchbanks's picture

Why the sudden pop?

Wed, 02/22/2012 - 14:52 | 2185687 swissaustrian
swissaustrian's picture

Might be price management ahead of tomorrow's options expiry

Same for silver

Wed, 02/22/2012 - 14:53 | 2185714 GeneMarchbanks
GeneMarchbanks's picture

That usually works the other way though I wouldn't mind if you were right.

Wed, 02/22/2012 - 15:10 | 2185782 swissaustrian
swissaustrian's picture

I agree, generally it means downside risk, see this chart from 2011:

There's a simple reason for that:

IF current price > level of biggest open interest, then there'll be price management to the downside.

But IF current price < level of biggest open interest, then there'll be price management to the UPside.

Wed, 02/22/2012 - 16:09 | 2186107 jekyll island
jekyll island's picture

China was outed as major buyer in open market recently, turned sentiment bullish.  Also several hedge funds are establishing (re-establishing?) large positions in Gold.  Looks like "smart money" is moving into gold.

Wed, 02/22/2012 - 14:37 | 2185629 AC_Doctor
AC_Doctor's picture

Silver shit slammed by naked short contracts into the COMEX close.  That's what JPM does best-short naked unbacked silver contracts at the behest of their masters the FED!  I think the gold market is shorted to the gills and a massive short squeeze, coupled with new buying interest is going to drive gold up above $2000 within the end of March.

Wed, 02/22/2012 - 14:38 | 2185640 silverbullion
silverbullion's picture

Very true. This is why I buy silver while it is still cheap. The paper manipulation cannot last forever.

Wed, 02/22/2012 - 14:39 | 2185643 resurger
resurger's picture

Please note that fails-to-deliver can occur for a number of reasons on both long and short sales. Therefore, fails-to-deliver are not necessarily the result of short selling, and are not evidence of abusive short selling or “naked” short selling. For more information on short selling and fails-to-deliver, see:



the fucking Crimex

Wed, 02/22/2012 - 14:36 | 2185630 Xibalba
Xibalba's picture


Wed, 02/22/2012 - 14:38 | 2185638 spartan117
spartan117's picture

But Clive Maund told me gold was going back to $1200!  WTF?!

Wed, 02/22/2012 - 14:39 | 2185644 AC_Doctor
AC_Doctor's picture

Maund headed back to rehab...

Wed, 02/22/2012 - 16:22 | 2186155 Troll Magnet
Troll Magnet's picture

who could've downvoted your comment?  clive?  are you lurking out there?

Wed, 02/22/2012 - 16:35 | 2186193 tekhneek
tekhneek's picture

It was Roubini's keyboard that he cried all over. It does that sometimes.

Wed, 02/22/2012 - 14:38 | 2185641 The Shootist
The Shootist's picture

Platinum needs to stay down like the bitch metal that it is. What, does it think it will do a stealth upshot of 30% in two days without anyone noticing, I dont think so.

Wed, 02/22/2012 - 14:44 | 2185664 DosZap
DosZap's picture

The Shootist

Plat is going up for two reasons, and I literally mean 2.

Russia, and South Africa.

They supply, or maybe NOT, at least 75% of total world supply.

Russia could (may have) stop sales to anyone at any time, SA mines are subject to closing ,riots, and strikes daily.

This is why its taken off.

Wed, 02/22/2012 - 14:57 | 2185726 GeneMarchbanks
GeneMarchbanks's picture

Um... RSA has a monopoly according to some sources I've read. It's 90/10 RSA & Russia.


Wed, 02/22/2012 - 15:10 | 2185783 trav7777
trav7777's picture

Bushveld alone has 6/7ths of the reserves and 17/24ths of the reserve base on the planet.  70-80% of production comes from that one formation ALONE.  Russia supplies around 10%.

Interestingly, Zimbabwe has some relatively "significant" reserves estimates, on par with Russia, and mines have recently started producing there.  Russia previously suppressed the Pt price by selling rather sizeable stockpiles into the market to cover for any supply issues, being a swing producer.  They stopped a few years ago, maybe they ran out, maybe they restarted.  Nobody knows how much, if any, they may have left.

However, 40% or so of the production is consumed for auto catalysts and after Fukushima, there really has been a major supply glut.  This won't last forever.  RSA production has shown plateauing metrics for half a decade and the diversity situation there is a catastrophe.  If their government pulls the zimbabwe method of "reconciliation," production will collapse and the world may have to intervene to install white people into those mines if this hasn't happened already.

An example of RSA's diversity program is their goal to make their air force 75% black.  They don't care about merit, it will be that number, period.  Given that blacks graduate VERY low numbers of candidates into combat air positions in integrated air forces, this can lead in only one direction, which is the same direction as affirmative action and race-based hiring always leads.

Wed, 02/22/2012 - 15:26 | 2185866 Max Fischer
Max Fischer's picture



You're so fucking neurotic about race, it's utterly impossible for you to have ANY conversation about ANY subject without turning it into a conversation about white supremacy.   

Wed, 02/22/2012 - 15:29 | 2185896 tmosley
tmosley's picture

Well said, Red Neck Repugnicant.

Wed, 02/22/2012 - 16:50 | 2186247 Gringo Viejo
Gringo Viejo's picture

It's a tenet in psychiatric circles that those incapable of being seen and/or heard will seek out negative attention as opposed to having none at all. For that reason alone, I won't give you a thumbs down.

Wed, 02/22/2012 - 17:00 | 2186279 tmosley
tmosley's picture

Eh?  That is his name.  He just keeps changing it so he can pretend to be another person.  He has a long history of doing this.

Most of the time, he and I are enemies, because he is a chronic liar, but in this case, he is in fact telling the truth.  Trav just can't go very long without segueing into a racist rant.

Wed, 02/22/2012 - 15:31 | 2185913 The Shootist
The Shootist's picture

Well, the RSA has become a shithole since Botha's succesor gave the country up. Soon it will become like Zimbawe, and the whites will continue their unrelenting exodus from that hell to Austrailia, Canada, the U.S. and the like.

Wed, 02/22/2012 - 15:34 | 2185937 trav7777
trav7777's picture

huh?  It was a discussion about SOUTH AFRICA, you IDIOT.

I didn't say anything about race in platinum mines in Russia or fucking Montana!  Without examing the RACE issue, you CANNOT assess the supply dynamics of Platinum as the motherfucking mine producing 80% of annual production is subject to RACE-oriented issues such as rolling power outages, incompetence in management, and a HOST of other factors unrelated to reserve quality!

In order to buttress this thesis, I made mention of ANOTHER institution in RSA for which race-norming is being forced; their airforce.  I know the notion of providing EVIDENCE for a position is alien to you, and ESPECIALLY when it's near your mental third rail, but the facts are the facts.

The reason for production "glitches" in RSA revolves around one issue and one issue alone, race. 

That said, I am confident that asians could run this mine just as well as whites.  So much for white supremacy.

Thu, 02/23/2012 - 08:49 | 2188539 prole
prole's picture

"production will collapse and the world may have to intervene to install white people into those mines if this hasn't happened already."

Sir I am shocked... shocked and horrified by that comment!

I would like to see how the UN or the Union of African Dictators ~words~ that particular decree.

Wed, 02/22/2012 - 15:27 | 2185877 Milton William ...
Milton William Cooper's picture

Platinum is a precious metal. It goes up for the reason any other PM goes up. It's not rocket science. It's debasement of currency.

Wed, 02/22/2012 - 14:51 | 2185703 Boston
Boston's picture

Platinum....up almost $100 in 48 hours?  Nice!

Good thing I loaded up, back when it fell below $1400 a few months ago. 

PS. Note to self--hold on to Pt until it's 2x spot gold.

Wed, 02/22/2012 - 14:52 | 2185708 Boston
Boston's picture


Wed, 02/22/2012 - 14:40 | 2185646 wee-weed up
wee-weed up's picture

To the moon, Alice! (bitchez)

Wed, 02/22/2012 - 14:40 | 2185648 dojiman
dojiman's picture

Lord James of Blackheath, House of Lords February 16 2012
Breaking news Lord James of Blackheath has spoken in the House of Lords holding evidence of three transactions of 5 Trillion each and a transaction of 750,000 metric tonnes of gold and has called for an investigation.

I think there are three possible conclusions that may come from it. I think there may have been a massive piece of money laundering committed by a major government which ought to know better and that it has effectively undermined the integrity of the British bank the Royal Bank of Scotland, in doing so. The second alternative is that a major American department has an agency that has gone rogue on it because it has been wound up and has created a structure out of which they are seeking to get at least 50 billion Euros as a payoff. And the third possibility is that this is an extraordinarily elaborate fraud which has not been carried out but which has been prepared in order to provide a threat to one government or more if they don't pay them off. So there are three possibilities and this all needs a very urgent review.

My Lords, it starts in April and May of 2009, with the alleged transfer to the United Kingdom, to HSBC of a sum of 5 trillion dollars and seven days later, in comes another 5 trillion dollars to HSBC, and then 3 weeks later another 5 trillion. 5 trillion in each case. Sorry. A total of 15 trillion dollars is alleged to have been passed into the hands of HSBC for onward transit to the Royal Bank of Scotland and we need to look at where this came from and what the history of this money is. And I have been trying to sort out the sequence by which this money has been created and from where it has come from for a long time.

Wed, 02/22/2012 - 14:48 | 2185690 SHRAGS
SHRAGS's picture

Video of his speech to the House of Lords:

Wed, 02/22/2012 - 14:52 | 2185705 Chaffinch
Chaffinch's picture

Err - that can't be right - so far we humans have only extracted approx 164,000 tonnes from the earth's crust... - the figure of 750,000 tonnes might be paper, but it sure ain't gold...

Wed, 02/22/2012 - 15:35 | 2185936 JLee2027
JLee2027's picture

Also claims some guy has 36 trillion in wealth, more than the US and EU combined.


Wed, 02/22/2012 - 15:37 | 2185947 trav7777
trav7777's picture

He forgot that this was in Zimbabwe dollars.

Or maybe it was someone holding the Warsaw Pact's reserve currency because "cash is king" in a deflationary collapse.  Maybe Karl Douchinger.

Wed, 02/22/2012 - 17:02 | 2186287 Stuck on Zero
Stuck on Zero's picture

They counted three times to make sure the amount was correct.  Each count was the same: 15 - trillion dollar bills.

Wed, 02/22/2012 - 14:41 | 2185653 Dermasolarapate...
Dermasolarapaterraphatrima's picture

Insurance company or university prob added several billion in gold for safety.



Wed, 02/22/2012 - 14:41 | 2185654 Thomas Jefferson
Thomas Jefferson's picture

The Hugo Chavez delivery omen?  Where is Jon Corzine these days?

Wed, 02/22/2012 - 14:41 | 2185656 THECOMINGDEPRESSION

WAIT! The turd said Gold and SILVER was going to go lower on SUNDAY! Do the complete opposite of what he states. He really doesn't know squat...

Wed, 02/22/2012 - 14:44 | 2185673 The Shootist
The Shootist's picture

He must be using TA. What say you Turd? No sweat though, I think we're all surprised by these markets.

Wed, 02/22/2012 - 14:50 | 2185694 zilverreiger
zilverreiger's picture

an hour before the 1770 spike he said to buy, and then discussed the probability of dips later this week

Wed, 02/22/2012 - 16:22 | 2186153 HeNateMe
HeNateMe's picture

For a person who has previously expressed many negative emotions regarding Turd you sure follow him quite closely.

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